The Weekly Journal - Wednesday, June 16, 2021

Puerto Rico and the Caribbean

www.theweeklyjournal.com

>Brandon Cruz González

Wednesday, June 16-22, 2021 - // no. 112

CHALLENGING WEEK FOR LUMA P6 PRMA REAX TO GLOBAL MINIMUM TAX P7

SNAPSHOT OF COVID-19’S IMPACT

>Josian E. Bruno Gómez

SAN JUAN IN MOST LIVEABLE CITY INDEX P8

ON TOURISM IN PUERTO RICO, REST OF THE CARIBBEAN Slew of tourism announcements as sector revives

A Rosario Fajardo

CELEBRATE DAD ON HIS SPECIAL DAY P14-15

rfajardo@wjournalpr.com

@RosarioWJournal

2021 report by the World Travel & Tourism Council (WTTC) and Oxford Economics provides important snapshots on the coronavirus pandemic’s impact on the visitor economies of 185 countries around the world, with the aim of helping inform the public and private sectors of the “huge value Travel & Tourism brings to the economy, so that their

policymaking and investment decisions” can support this sector.

In Puerto Rico, the joint study estimates that during 2019, travel & tourism accounted for a contribution of $5.17 billion in economic activity, representing 5.0 percent of the island’s gross domestic product (GDP). This dropped by a whopping 66.4 percent to $1.74 billion in 2020, the main year of the COVID-19 pandemic, representing 1.8 percent of Puerto Rico’s GDP. Employment numbers in the island’s visitor GO TO PAGE 4

The Weekly Journal > Wednesday, June 16, 2021 > 2

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A WEEK IN REVIEW GENERAL FUND’S MARCH NET REVENUES EXCEED PROJECTIONS

>Josian E. Bruno Gómez

Puerto Rico Treasury Secretary Francisco Parés Alicea reported that the General Fund’s net revenues for March 2021 reached nearly $1.04 billion. He said that by the end of March, the General Fund’s accumulated revenues for the current fiscal year reached nearly $7.8 billion, or $307 million more compared to the nearly $7.5 billion generated by the same period during fiscal year 2020, for a 4.1 percent increase.

AUTO DEMAND REMAINS HIGH The United Group of Automobile Importers, which represents the automotive industry in Puerto Rico, reported 12,686 new units sold for May 2021. This number is 10,020 more than in May 2020, and 1,871 more than April 2021. In other words, demand for new vehicles - which had been stalled last year over COVID-19 - continues to grow. May 2021 was the second-highest auto sales recorded since 2016, narrowly beaten by Dec. 2018, when 12,702 new car sales were reported.

Powered BY El Vocero de Puerto Rico, 1064 Ave Ponce de León 2nd floor San Juan, PR Postal Address: PO Box 15074, San Juan, PR 00902

President Salvador Hasbún shasbun@elvocero.com Vp of Marketing and Business Operations Michelle Pérez Miperez@elvocero.com

BANKRUPTCIES DROP IN MAY During May, bankruptcies decreased by 8.5 percent, with 335 bankruptcies initiated, equivalent to 31 fewer than the same period in 2020. From Jan. to May 2021, 1,718 bankruptcy cases were filed, which puts the accumulated figure at 18.3 percent below the 2,102 cases registered in the same period of 2020, a downward trend that began in 2019. According to Boletín de Puerto Rico, more bankruptcies are filed under Title 13 - individual reorganization - with 984 cases so far this year.

These represent 57.3 percent of the total bankruptcies filed.

VP of Accounting Félix A. Rosa frosa@elvocero.com

Human Resources Director Arlene Rolón, PHR arolon@elvocero.com

VP of Editorial Content Juan Miguel Muñiz Guzmán jmuniz@elvocero.com

VP of Production Eligio Dekony edekony@elvocero.com

Traffic Director Ilia M. Pérez Centeno iperez@elvocero.com

Multi-Platform Graphic Director Héctor L. Vázquez hvazquez@elvocero.com

Multi-Platform Digital Director María Arce marce@elvocero.com

Phone: 787-622-2300, 787-721-2300

Assistant Editor/ Reporter Rosario Fajardo rfajardo@wjournal.com

Customer Service: 787-622-7480

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The Dominican Republic saw a 22.0 percent drop in travel and tourism-related jobs in 2020 due to COVID-19. >Courtesy of the Dominican Republic’s Ministry of Tourism

CONTINUED FROM PAGE 1 economy also saw a big decrease from 99,700 jobs in 2019 to 85,900 in 2020. This represents a loss of 13.9 percent jobs in the sector.

A similar picture can be seen in the Dominican Republic, which is a major tourism competitor to Puerto Rico. In 2019, the Dominican Republic reported travel & tourism accounted for $12.99 billion, representing 15.9 percent of its GDP. The numbers dropped significantly to $5.56 billion in 2020, representing 7.5 percent of the country’s GDP. In other words, the Dominican Republic saw a decrease in economic activity of 57.2 percent in the sector.

In terms of jobs, the country had 799,700 jobs in travel & tourism in 2019, which decreased to 623,800 in 2020 due to COVID-19’s impact. This is a drop of 22.0 percent in employment for the sector.

Meanwhile, Puerto Rico’s sister U.S. territory of the U.S. Virgin Islands (USVI), another top tourism competitor, experienced similar numbers to those of the Dominican Republic. Travel & tourism accounted for $2.32 billion for the USVI in 2019, representing 53.6 percent of its GDP, highlighting the importance of this sector to the local economy. In 2020, travel & tourism dropped to $934.3 million, or 27.1 percent of its GDP. The overall change in economic activity for the USVI was a loss of 59.7 percent in the sector.

Employment also saw a big decrease, going from 28,500 in 2019 to 20,500 in 2020. The loss of 8,000 jobs was a drop of 27.9 percent for the USVI.

[T]he region is well-positioned to recover quickly because of Caribbean tourism’s strong appeal and proximity to major travel markets, where consumers are anxious and have already begun to escape.

-Vanessa Ledesma, acting CEO and director general of the Caribbean Hotel and Tourism Association

Impact on the Caribbean Region

For the Caribbean as a whole, WTTC research indicates that the travel & tourism sector’s contribution to the region’s GDP dropped by $33.9 billion in 2020, as COVID-19 sparked a dramatic 58 percent collapse. An estimated 680,000 jobs were lost with many more still hanging in the balance, but the return of international travel this year could see GDP contribution rise sharply and jobs return, said the WTTC. Travel & tourism’s impact on the region’s GDP fell from $58.4 billion (14.1 percent) in 2019, to $24.5 billion (6.4 percent), just 12 months later, in 2020. The year of damaging travel restrictions that

brought much of international travel to a grinding halt, resulted in the heavy loss of travel & tourism jobs across the popular holiday region, equating to almost a quarter of all jobs in the sector.

These job losses were felt across the entire travel & tourism ecosystem, with small and midsize companies, which make up eight out of 10 of all global businesses in the sector, particularly affected. “Furthermore, as one of the world’s most diverse sectors, the impact on women, youth and minorities was significant. The number of those employed in the Caribbean Travel & Tourism sector fell from nearly 2.76 million in 2019, to 2.08 million in 2020, a drop of almost a quarter (24.7 percent),” according to the WTTC. Data also revealed that domestic visitor spending declined by 49.6 percent in the Caribbean, with international spending faring even worse, falling by 68 percent, due to the region’s strong reliance on international travel, with many of the islands massively impacted.

“Whilst the global average Travel & Tourism contribution to GDP fell by -49.1 percent, many of the islands in the region fared much worse. St. Kitts and Nevis saw a steep decline of 72.3 percent, while St. Lucia was close behind with a decline of 71.7 percent. The Bahamas, [British] Virgin Islands and St. Vincent and the Grenadines all saw harsh losses, with declines of 68 percent, 67.6 percent and 67 percent, respectively, demonstrating just how important international inbound travel is to the region,” said the WTTC. “The loss of 680,000 Travel & Tourism jobs across the Caribbean region has had a terrible socioeconomic impact, leaving huge numbers of

/ Wednesday, June 16, 2021

people fearing for their future. The WTTC believes that if restrictions on travel are relaxed before the busy summer season, alongside a clear plan to allow inbound visitors to return to the region once again, the 680,000 jobs lost across the Caribbean could return later this year,” said Virginia Messina, senior VP of the organization.

“Another year of terrible losses can be avoided if governments support the swift resumption of international travel, which will be vital to powering the turnaround of the Caribbean economy. Our research shows that if mobility and international travel resume by June this year, the sector’s contribution to global GDP could rise sharply in 2021, by 48.5 percent, year-on-year,” she added.

“While we’re seeing great progress in In May 2019, Luis some regions Muñoz Marín with the International vaccination Airport received rollout, we 776,383 passengers. know it will take This dropped to a significant an abysmal low of amount of time 79,906 in May 2020 to inoculate and skyrocketed to the global 896,041 in May 2021. population, Source: ASUR particularly those in less advanced countries, or in different age groups, therefore governments should consider measures to allow all travelers to cross borders, through enhanced health and hygiene protocols, and rapid testing,” Messina said.

According Forward Keys, a company that analyzes travel industry trends, most United States departures in 2021 are to the Caribbean and Mexico, which could bring a swift recovery to the hard hit region.

“The region is well-positioned to recover quickly because of Caribbean tourism’s strong appeal and proximity to major travel markets where consumers are anxious and have already begun to escape,” according to Vanessa Ledesma, acting CEO and director general of the Caribbean Hotel and Tourism Association (CHTA).

However, she expressed concerns that the continuing challenges in many Caribbean islands could hinder a quick recovery. A CHTA survey released earlier this month found that approximately 14 percent of industry stakeholders indicated they are likely or highly likely to permanently close as a result of the pandemic, while 37 percent indicated that permanent closure is a possibility. The news comes at a time when most Caribbean hotels and tourism-related businesses either have reopened or are planning to reopen in the coming months.

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The U.S. Virgin Islands (USVI) is highly dependent on tourism and saw this sector’s contribution drop from $2.32 billion in 2019 to $943.3 million in 2020, due to COVID-19. >Courtesy of the USVI Tourism Department

that serves San Juan, reported that May 2021 passenger numbers increased by 1,021 percent compared to May 2020.

In May 2019, LMM received 776,383 passengers.

This dropped to an abysmal low of 79,906 in May 2020 and skyrocketed to 896,041 in May 2021.

Reflecting the increased demand for flights to Puerto Rico, more U.S. airlines are adding new routes to the island. American Airlines announced that for the first time, it would launch direct flights between Austin, Texas and San Juan, starting Oct. 7 of this year.

“This new flight is undoubtedly a great opportunity to expand the arrival of more visitors to the island, which in turn represents

Slew of Announcements in Puerto Rico

While other Caribbean destinations may just be ramping up, Puerto Rico continues to report strong numbers in travel & tourism. For example, Grupo Aeroportuario del Sureste (ASUR), which operates the Luis Muñoz Marín (LMM) International Airport

The Carnival Mardi Gras >Courtesy of Carnival Cruise Line

an economic impact of about $ 6 million to our economy [for the rest of the calendar year],” said Puerto Rico Tourism Co. Executive Director Carlos Mercado Santiago.

Meanwhile, Southwest Airlines announced that starting Nov. 6, it would offer direct flights between Buffalo-Niagara, New York and LMM, as well as St. Louis, Mo. and LMM. Mercado estimated that these flights would bring in an economic impact of $1.2 million for the months of Nov. and Dec. 2021.

The economic impact measurement not only includes spending by visitors to Puerto Rico, but also the positive effect of job creation as well as reopening and expanding tourism and hospitalityrelated businesses.

Finally, the cruise sector will receive a positive boost in the coming months with the arrival of the Carnival Mardi Gras cruise ship on Aug. 3 to Old San Juan’s cruise port. The Mardis Gras has a total passenger limit of 6,500 people, which would be a boon for the Old City’s many small businesses.

“The arrival of the Carnival Mardi Gras on Aug. 3 reaffirms Puerto Rico’s position as one of the most attractive and important ports in a region as competitive as the Caribbean,” Mercado said.

“After more than a year of hiatus in the cruise industry, and months of waiting to be able to confirm the final itinerary of the maiden voyage of one of the most anticipated cruise ships in the industry, the port of San Juan will be the first Mardi Gras stop on its first seven-day Eastern Caribbean itinerary,” he added.

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Fire at the Monacillos substation. >César Silva/Special

A Challenging Week for LUMA

Union rep announced after fire at substation, cyberattacks

I

Rosario Fajardo

rfajardo@wjournalpr.com

@RosarioWJournal

t would be an understatement to say that LUMA Energy had a challenging week in Puerto Rico, as the company had to handle two emergency situations, less than two weeks after it became the new operator of Puerto Rico’s electric power transmission and distribution system, effective June 1.

The first was a cyberattack reported on June 10, known as a targeted Distributed Denial of Service (DDoS) attack on the Mi LUMA customer portal and mobile application. A DDoS attack is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources.

The DDoS attack was identified and had been issuing 2 million hits per second on the LUMA site.

As a result, many customers had difficulty accessing information related to their account.

The attack has been reported to pertinent authorities and LUMA awaits the results of an ongoing investigation.

However, the cyberattacks have apparently continued. EL VOCERO, the sister publication of THE WEEKLY JOURNAL, has reported that another attack was reported over the weekend. This attack was similar to the one last week, in which users could not access their accounts and were continually booted off the webpage. Government officials said the FBI has been notified and are continuing to investigate.

Mere hours after the cyberattack, a major

transformer fire at a substation that serves the the Union Insular de Trabajadores Industriales y San Juan metro area left an estimated 800,000 Construcciones Eléctricas (UITICE) requested formal customers initially without power, according to recognition as the exclusive collective bargaining officials. Authorities said the unexplained explosion representative for a bargaining unit of LUMA occurred at 6:11 pm on June 10 at the Monacillos employees. substation.

LUMA said that UITICE has reached majority No injuries were reported and fire, police and status, confirmed by an impartial arbitrator, other emergency personnel were and recognizes UITICE as the immediately sent to the scene. bargaining representative for Officials said repairs could take an a bargaining unit of LUMA estimated two weeks. employees. “LUMA looks forward The FBI is also investigating to commencing negotiations this incident and Gov. Pedro towards a collective bargaining Pierluisi said if it is determined agreement and establishing LUMA Energy that the explosion was found to a relationship with the Union, announced that be caused by sabotage, then those governed by the National Labor the Union Insular responsible would be held to Relations Act,” the company said in de Trabajadores account. a statement.

Industriales y As of 8 p.m. on Friday evening “LUMA believes in instituting Construcciones (June 11), LUMA had restored modern labor relations with its Eléctricas (UITICE) service to customers directly workforce that align with Company requested formal affected by the fire that took place objectives of providing healthy recognition as at the Monacillos substation. and safe working conditions, the exclusive “We have not located the source exceptional customer service, a collective bargaining of the fault; It’s clear that the transformation of Puerto Rico’s representative for electrical system here in Puerto electric power delivery system, a bargaining unit of Rico is very fragile,” said Wayne industry standard compensation, LUMA employees.

Stensby, president and CEO of equal opportunity, and promotion LUMA. of a diverse workforce. LUMA “We were able to safely stabilize anticipates that any future the system and make temporary repairs to restore collective bargaining agreement will be consistent service as quickly as possible. My gratitude goes with Company objectives and enable LUMA to out to all the LUMA employees and cooperating run its business for the benefit of the people, authorities for their hard work to safely manage the businesses, and government of Puerto Rico and incident and restore power to our customers under LUMA employees,” LUMA added. challenging circumstances,” he added.

“LUMA’s parent companies have thousands LUMA crews are continuing to work at the of unionized employees and have constructive Monacillos substation to make repairs to the relationships with labor unions. LUMA looks affected infrastructure. forward to the opportunity to do the same in Puerto The company also announced on Monday that Rico,” the company said.

In fact,

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G7 Corporate Tax Proposal Would Impact Puerto Rico Manufacturing Industry leader calls for stronger competitiveness Giovanna Garofalo

T

ggarofalo@wjournalpr.com

@giopgarofalo

he G7 proposal of establishing a global minimum tax on multinational companies to deter overseas profit-stashing would affect both American and foreign multinationals operating on the island, warns Carlos Rodríguez, president of the Puerto Rico Manufacturing Association (PRMA).

In their first face-to-face meeting in two years, the countries comprising the Group of Seven - the United States, Canada, United Kingdom, Japan, France, Italy and Germany agreed, among other things, that a minimum corporate tax rate of 15 percent is needed to stop multinationals from evading taxes by using tax havens. This move, championed by President Joe Biden’s administration, “would end the raceto-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world,” said Treasury Secretary Janet Yellen.

Although this resolution would still have to be scrutinized at the Group of 20’s summit later this year and U.S. congressional action would be required, its enactment worldwide would have dramatic repercussions in manufacturing.

“Regardless of whether they reach an agreement, be it more or less close to that number (of 15 percent), it definitely impacts every country that has taxes as part of its benefits for manufacturing,” Rodríguez explained.

Moreover, other critics have warned that the proposal would result in higher costs for consumers, many of whom have been economically affected already by the COVID-19 pandemic.

Likewise, the groups Americans for Tax Reform and the World Taxpayers Association signed a joint public letter explaining that this agreement would significantly damage the valuable tax competition among countries and would cause undue harm to businesses, workers and economies around the world. A global minimum tax rate would greatly curtail the force of tax competition. This competition between nations offers a critical check on the power of governments and it is vital for ensuring efficient and reasonable levels of taxation.”

Meanwhile, Biden proposed a national tax rate of 21 percent on overseas earnings, up to 13.13 percent higher than the rate enacted under the Trump administration. This rate, which exceeds the proposed global minimum, would require U.S. jurisdictions to increase their competitiveness to carry on the reshoring initiative that has been discussed extensively since the past administration.

telecommunications infrastructure, an educated workforce with an emphasis on STEM fields, and less bureaucracy.

“We still have a long way to go. Taxes, even if they kept them low, are only one of the elements that a company takes into consideration when it is going to establish itself in a country. You have the element of taxes and you have the element of infrastructure, plus you have the element of quality of employers, which we have no problems with. When a company is going to establish itself Stronger Competitiveness Needed in a place, it takes countless However, Rodríguez affirmed elements into consideration and to THE WEEKLY JOURNAL we in Puerto Rico still lack a lot that in order to attract more in everything that has to do with manufacturing, Puerto Rico infrastructure and government cannot rely solely on tax breaks agility,” Rodríguez said.

Critics have and incentives provided under As different countries and warned that the laws like Act 60-2019, which jurisdictions compete for proposal would consolidated Acts 20 and 22 of their share of the profits, the result in higher 2012. “In the case of Puerto Rico, PRMA president underscored costs for consumers, I think it sends a signal once the need for immediate and many of whom have again to the government - this diligent action. “At some point, been economically is not the first time that this we have to start and if the bus affected already has happened - that it has to has already left us, we still by the COVID-19 focus on establishing economic have to start at some point and pandemic. development strategies geared the moment is now that we towards competitiveness, not have federal funding. So, it is purely taxes,” he stated. important that the government Specifically, he argued that reacts with a plan that is agile the island needs to bolster and fast in terms of everything the multiple elements that that has to do with the development of the determine its ease of doing business, which country’s competitiveness,” he affirmed. includes energy infrastructure and costs, the process to obtain permits, broadband networks, - The Associated Press contributed to this story.

In fact,

Leaders of the G7 agreed to establish a minimum corporate tax rate of 15 percent for multinationals. >AP Photo/ Patrick Semansky, Pool

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A view of the Condado area in San Juan >Josian E. Bruno Gómez

San Juan Scores in the Mid-Range of Global Liveable Cities

Top city is Auckland, while Damascus receives lowest score

A Rosario Fajardo

rfajardo@wjournalpr.com

@RosarioWJournal

global survey of 140 cities conducted in 2020, dubbed as the year of the COVID-19 pandemic, has found that San Juan scored in the 60-69 point range, putting Puerto Rico’s capital city in the mid-range level.

In general, island nations with strong border controls during the pandemic scored high.

The global survey was conducted between Feb. 22, 2020 and March 21, 2021, by The Economist Intelligence Unit (EIU), and found that overall, cities worldwide fell by an average of seven points compared to their pre-pandemic scores. The survey found that the pandemic has caused “huge volatility” in the five categorized analyzed: stability, healthcare, education, culture and environment and infrastructure.

“The extent to which cities were sheltered by strong border closures, their ability to handle the health crisis and the pace at which they rolled out vaccination campaigns drove significant changes in the rankings,” the EIU said.

In that respect, Puerto Rico benefited because the island’s vaccination numbers against COVID-19 are good. According to the Centers for Disease Control, an estimated 40.5 percent of the island’s 3.2 million population are fully vaccinated and to date, around 60 percent have received at least one dose. Puerto Rico government officials expect herd immunity to be achieved in a couple of months.

The Main Findings of the Survey:

• Auckland, New Zealand, is at the top of The Economist Intelligence Unit’s Liveability rankings, owing to the city’s ability to contain the coronavirus (Covid-19) pandemic faster and thus lift restrictions earlier, unlike others around the world.

• Six of the top 10 cities in the survey are in New Zealand or Australia, where tight border controls have allowed residents to live relatively normal lives.

• Many European and Canadian cities have fallen down the rankings, having battled a second Covid-19 wave by restricting cultural and sporting events, and closing schools and restaurants.

• The lower end of the rankings has seen less change, with the Syrian capital, Damascus, still the least liveable city in the world.

• Healthcare scores fell after the onset of the pandemic in most cities across the world, with the least affected cities concentrated in western Europe and the Asia-Pacific region.

As per the EIU, owing to border closures and a consequently low Covid-19 case count, New Zealand has been able to keep its theaters, restaurants and other cultural attractions open.

“Students have been able to continue going to school, giving Auckland a 100 percent score for education. This has allowed the city to move up from sixth place in our autumn 2020 survey to first position in our March 2021 rankings. The New Zealand capital, Wellington, has also gained from this relative freedom, moving from 15th to joint fourth place in our current rankings.”

Meanwhile, the Japanese cities of Osaka and Tokyo ranked second and fourth, respectively, owing to continued high stability scores. In third place is Adelaide in Australia, which also imposed a ban on international travel. Three more Australian cities—Perth, Melbourne and Brisbane—appear

in the top 10, with Sydney in 11th place. The Swiss cities of Zurich and Geneva also maintained their places in the top 10, despite some social restrictions still being in place.

In fact, Top 10 Most Liveable Cities in the World Auckland, New Zealand Osaka, Japan Adelaide, Australia Wellington, New Zealand Tokyo, Japan Perth, Australia Zurich, Switzerland Geneva, Switzerland Melbourne, Australia Brisbane, Australia Bottom 10 Least Liveable Cities in the World Caracas, Venezuela Douala, Cameroon Harare, Zimbabwe Karachi, Pakistan Tripoli, Libya Algiers, Algeria Dhaka, Bangladesh Port Moresby, Papua New Guinea Lagos, Nigeria Damascus, Syria Source: The Economist Intelligence Unit

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Puerto Rico Among Top-Ranked Internet Download Speeds in the Americas

Local consumers paying more than twice the rates in the U.S. mainland

P Giovanna Garofalo

ggarofalo@wjournalpr.com

@giopgarofalo

uerto Rico has some of the fastest internet downloads in the Americas, according to a report

by Speedcheck, an organization dedicated to analyzing internet and streaming speed, and trends worldwide.

Frederik Lipfert, CEO of Speedcheck, explained to THE WEEKLY JOURNAL that for the 2021 Speed-Price Index (SPI) report, released earlier this month, the entity studied the relationship between the price of mobile data and the speeds at which the carriers actually deliver that data.

“In this insightful investigation by Speedcheck, we analyzed the mobile broadband speed experienced by the users of our service in 89 countries across five continents and compared them against the prices consumers are paying for data in each country,” the report reads. “The index increases as the speed increases and/or as the cost of data reduces. Thus, the higher the index the more value for money the mobile user enjoys.”

Compared to the Americas - including North America, South America and the Caribbean Puerto Rico ranked fourth place in terms of download speed, with an average of 15.49 megabits per second (Mbps). Paraguay, the U.S. mainland, and Canada narrowly beat the island’s record with speeds of 17.11, 16.99, and 15.67 Mbps, respectively.

In terms of SPI, Puerto Rico also ranked fourth place in the Americas segment - even beating Canada - with an average price per gigabyte of $6.90 and a total SPI score of 2.2. The SPI considers both speed and price, so some countries may have slower speed or higher costs, and still rank higher in their SPIs. For example, Argentina has a download speed of 7.49 Mbps that is -8.06 Mbps slower than that of Puerto Rico - but ranked third in the Americas with an SPI of 2.3 because the average price per gigabyte is $3.16, or $3.77 less

The island ranked fourth place in the Americas in both download speed and SPI ranking. >Archive

By contrast, Israel has a download speed of 7.12 than in Puerto Rico. Likewise, although Paraguay Mbps, but the average price per gigabyte is $0.09, has the fastest download speed, it ranked eighth far lower than U.S. and Puerto place with an SPI of 1.4 because Rico costs. This positions the the average cost is $12.59, nearly nation in first place with an SPI twice the price in Puerto Rico. of 82.3, surpassing the secondMeanwhile, the U.S. mainland highest SPI (Italy) by 38.1 SPI tops the SPI rank of the Americas scores. with a score of 5.1. In addition The U.S. Moreover, Puerto Rico, the to having the second-fastest mainland tops U.S. mainland and the rest of download speed, the average the Speed-Price the Americas have considerably price in the U.S. per gigabyte Index (SPI) ranking slower download speeds. is $3.33, less than half of what of the Americas with “Looking at it from a purely Puerto Rico consumers pay. a score of 5.1. In speed metric only, Paraguay, addition to having with an average speed of 17.11 the second-fastest Lagging Internationally Mbps, beats the United States download speed, the Although they fared well in the with 16.99 Mbps. But what is average price in the Americas, both the U.S. mainland more concerning is the overall U.S. per gigabyte is and Puerto Rico are falling behind average speed for the Americas $3.33, less than half when comparing SPIs worldwide. is considerably lower than that of what Puerto Rico The United States has a global SPI of Europe where... consumers consumers pay. ranking of 31, while Puerto Rico is in Bulgaria, Switzerland and The even farther behind with a 46th Netherlands are enjoying speeds ranking. According to the report, of 46.63, 43, and 36.76 Mbps, this indicates that the value respectively,” Lipfert and Gerard consumers are getting for their Kearney, Telecoms Consultant for Speedcheck, mobile data “is well below par when compared explained in the report. with the rest of the world.”

In fact,

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University Students Gain Insight,

Knowledge With AAFAF Summer Internships 14 students participating in a variety of fiscal and recovery projects

F

Giovanna Garofalo

ggarofalo@wjournalpr.com

@giopgarofalo

or the second year in a row, the Fiscal Agency and Financial Advisory Authority of Puerto Rico (AAFAF by its Spanish acronym), is holding its José M. Berrocal summer internship program, where college students can learn about the island’s economic recovery and fiscal affairs, and actively participate in projects to foster economic development.

AAFAF Executive Director Omar J. Marrero explained to THE WEEKLY JOURNAL that the purpose of this two-month internship is to educate the leaders of tomorrow and provide them with the tools and resources to comprehend Puerto Rico’s complex financial scenario, as well as provide a hands-on approach where they can show off their skills to be incorporated in the agency’s projects. Last year, the program was held in a hybrid format but this year the interns will be working in the entity’s building. Fourteen students from local and U.S. universities were selected from a variety of academic disciplines, such as finance, accounting, economics, pre-law, human resources, communications and more.

One student is Jorge García, a 21-year-old San Juan native from Villanova University in Pennsylvania. García is doing a double major in finance and business analytics, “which is basically the study of large pieces of data that are analyzed and solutions are sought to increase efficiency,” he stated.

Having studied in high school from 2015 to 2018, García was just a teenager when Puerto Rico underwent historic challenges - the public debt was declared unpayable, the federal government passed the Promesa law and established the Financial Oversight and Management Board, and two back-to-back hurricanes devastated the island, prompting an ongoing recovery process that has led to billions of federal allocations.

“When I saw the call for internship of this program (in LinkedIn), I understood that this was an excellent way for me to have a much more enriching knowledge of the subject and contribute a little of my knowledge that I have obtained in Villanova to help and provide recommendations,

Each intern is assigned to an area that aligns with his/her studies and experience. >Courtesy of AAFAF

and that’s how I got interested in the program,” challenges that Puerto Rico faces. With eight weeks he asserted, adding that he intends to return to of intensive learning and hands-on involvement, Puerto Rico after completing I also hope to acquire the skills his studies. “Apart from all the necessary to navigate those knowledge that we are going to challenges and I envision myself, obtain here, I believe that the hopefully, returning to Puerto Rico second most important thing in the near future to pursue the Fourteen for me is the opportunity to efforts of AAFAF in collaboration students from local meet all the members that are with other governmental entities,” and U.S. universities part of AAFAF and the... team. she affirmed. were selected from a This is an amazing tool for a Potter has experience working variety of academic young man like me... to expose in several law firms, specifically disciplines, such as himself to these professionals targeted toward COVID-19 recovery finance, accounting, of this level and for them to see and employment efforts, “so I economics, pre-law, the potential that one has to believe that those skills, particularly human resources, grow professionally.” at this moment, are necessary for communications Meanwhile, Alexa Potter Puerto Rico,” she said. “As we know, and more. is a 21-year-old Washington, Puerto Rico is in a very unique D.C. native studying pre-law situation and also at a very pivotal with a focus on social justice moment in that unique situation. at Occidental College, in Los I believe that at such a critical Angeles. Her father is a bankruptcy lawyer for time right now, my skillset aligns with the current Puerto Rico and she is familiarized with both mission of Puerto Rico and its movement towards the island and its economic environment. She reconstruction and economic empowerment.” explained that the combination of theoretical and practical knowledge drew her to this opportunity.

“I hope to gain both theoretical and practical insight into the operations of AAFAF, as well as a deeper understanding of the historical and future

In fact,

11 < The Weekly Journal > Wednesday, June 16, 2021

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Omar J. Marrero

Executive Director, Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF)

Effectiveness and Creativity Distributing ARPA Funds

G

ov. Pedro Pierluisi’s administration is committed to maintaining constructive relationships with the federal government and the Oversight Board.

The use of ARPA funds is a specific example of the success of this effort.

The American Rescue Plan Act (ARPA), passed in March 2021, allocated $2.47 billion to the Government of Puerto Rico to respond to the impacts of COVID-19. In addition, $1.5 billion will be allocated to the island’s municipalities, which may apply for such funds, primarily directly to the U. S. Treasury Department.

Given that Puerto Rico has been managing COVID-related federal

funds prudently, this time, the federal government did not impose any special conditions to access said funds.

PROMESA does not authorize the Oversight Board to intervene with federal transfers. The reason for this may be that said transfers do not have an impact on the General Fund, the source of the funds to pay bondholders.

Therefore, as long as we comply with the restrictions of ARPA, the Government of Puerto Rico may make the allocations it deems appropriate without the intervention of the Oversight Board. This is what we did as part of the first round to distribute $520 million in funds.

ARPA funds cannot be allocated to grant Corrections Department officers a pay increase, no matter

how much they deserve it. However, we are allocating $20 million to pay bonuses to those officers who have been working in person during the pandemic.

We are allocating $94 million to the University of Puerto Rico to provide continuity to the services this institution provides to the general community and particularly, to the university community. We are also allocating $15 million to nonprofit institutions certified by the Treasury Department for needs incurred during the pandemic.

There are many reasons why many workers are reluctant to rejoin the labor force. It may be due to childcare responsibilities because many schools have been closed; the limitations on economic activities subsequent to

Mike Fouts

VP of Partner Sales at Citrix

C

How to Make Safety and Experience Go Hand in Hand

ybersecurity tops every CIO’s priority list with attacks such as ransomware and denial of services.

As the digital world grows and expands with new device and network integrations, each endpoint represents a security risk factor. In both the public and private sectors, infiltrators seek to access sensitive information or cause financial chaos for individuals, businesses and communities in exchange for financial gain, with potentially catastrophic results.

So it’s no surprise that companies around the world have gone out of their way to respond to these diverse threats. In customer communities, channel partners became the primary drivers of comprehensive security measures to ensure the digital security

of customers, employees, partners and stakeholders. Strongly influenced by the increasing decentralization of the workspace due to COVID-19, security leaders now turn to the channel for guidance on how to optimize their strategy and prevent the worst.

But when implementing those changes, can the resulting excess security become a problem? By reconfiguring networks and devices to prioritize maximum security above all else, are other factors hurting?

One of the aspects most impacted by a mindset focused exclusively on safety is experience. From that point of view, logic indicates that it does not matter how cumbersome or difficult it is to use the systems, as long as the potential risk is minimized. But in today’s environment, the employee’s experience is just as important as the customer’s. Organizations would never

make it difficult to use their solutions for customers on purpose. Why would they do it for such an important audience as employees?

Security should not be achieved at the expense of experience or productivity. While implementing solutions that leverage next-generation technology is increasingly important to intelligently adapt to digital environments, channel resources need to provide appropriate guidance, fit the future of work, and help build a positive employee experience.

Today, balancing world-class security and a hassle-free experience is the first thing IT managers consider.

In fact, in a Citrix and Pulse survey of IT executives and managers in North America, Europe, the Middle East, Africa and the Asia-Pacific region, 97 percent said that employee experience is the key to their strategy of security

executive orders that were necessary to contain COVID; concerns about their own health; or because special federal unemployment payments during the pandemic make it less attractive to go back to work.

We are allocating $100 million to a program for going back to work in restaurants and agriculture. This must be seen as a measure supplementing other government efforts to encourage people to go back to work.

We have conducted a massive vaccination program and permitted economic activities are being relaxed, including summer camps. Meanwhile, special federal unemployment payments end in September. This new $100 million allocation is another element of this return-to-work effort.

In addition, we began an orientation campaign addressed to municipalities on the funds that they will receive from the U.S. Treasury Department.

They will be guided on the process of application and certification of funds, the adequate use of funds, and the reporting requirements and faithful compliance with the requirements of the law.

We will continue identifying needs for which the use of ARPA funds is allowed and providing tools to deliver solutions. for the future.

As a result, more and more organizations are looking for solutions that take both factors into account, that is, that work mostly in the background, without getting in the way of the employee’s daily experience. Rather than establishing a general security checkpoint, these infrastructures use machine learning to create individual profiles for each user, internally and externally. With this profile, based on behavior according to role and activities, each individual is given access that can respond to changes in real time. Channel partners play a very important role in integrating these solutions, which can replace traditional VPNs (virtual private networks) and are tailor-made to meet the needs of individual client companies.

For any organization, success depends on safety and expertise working together. That, however, is impossible to achieve without a robust ecosystem of channel partners that facilitates the diverse needs of stakeholders. Partner models based on shared resources, collaboration and training can be a key difference.

From working with managers to ensure buy-in to customizing solutions to the company’s unique security and productivity needs, the channel serves as a critical base of support that ensures those needs are met.

/ Wednesday, June 16, 2021

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‘In the Heights’ Lifts Hopes for a Latino Film Breakthrough About 60.6 million Hispanics live in the mainland U.S.

N

The Associated Press

EW YORK (AP) — Color. Dance.

Music. Joy. An all Latino cast!

The hype for “In the Heights” has brought great expectation for Latinos in the United States, a group that’s been historically underrepresented and widely typecast in films. And with upcoming titles like “Cinderella” with Cuban-American singer Camila Cabello, “The Hitman’s Wife’s Bodyguard” with Mexican star Salma Hayek and Steven Spielberg’s revival of “West Side Story,” this seems to be just the beginning of a string of productions that place Latinos front and center.

“In the Heights,” which opened last Friday, is an adaptation of the Tony-award winning musical

by Lin-Manuel Miranda and Quiara Alegría Hudes about the hopes and struggles of residents of New York City’s Washington Heights. Directed by Jon M. Chu (“Crazy Rich Asians”), many hope it will mark a new beginning on the big screen for the largest minority group in the country — one that mirrors shifts that have already happened for Black and Asian actors and creators.

“You know, every decade there’s, ‘Is this movie gonna break through? Or is this particular music style gonna break through? Or this particular performer or singer? Are they gonna open the doors for a kind of explosion?’”, says Jimmy Smits, who is of Puerto Rican descent. “I think the dynamics right now in terms of where we are culturally, just in terms of our population, and the potential economic power that we have, ... the universe aligned in a nice way.

“You have this beautiful collage of people in the community,” says Smits, the star of “NYPD Blue” and “West Wing” who plays Kevin Rosario, a single father and the owner a taxi cab service, in “In the Heights.” “It’s the immigrant experience that’s been part of the fabric of this country since it started.

And it’s positive. So we need that right now after the pandemic.”

John Leguizamo agrees. “I think that ‘In the Heights’ is gonna be THE project that changes the whole thing finally,” says the Colombian-American actor and playwright, who started his career on film and television but, like Miranda, found a place to tell his stories — and validation of this work — on and off Broadway.

Leguizamo, who won a special Tony Award in 2018 for his commitment to bringing diverse

This image released by Warner Bros. Pictures shows a scene from “In the Heights.” >Macall Polay/Warner Bros. via AP

This image released by Warner Bros. Pictures shows a scene from “In the Heights.” >Warner Bros. via AP

stories and audiences to Broadway through his one-man shows including “Freak, “Ghetto Klown” and “Latin History for Morons,” says he’s been pitching stories to Hollywood for 30-plus years.

“I started to believe that maybe I don’t know how to write, maybe I just don’t know how to pitch, cause all my stories were rejected,” he says. “And then I started to realize, ‘Oh my God, it’s because it was Latin content!’ They didn’t know what to do with it. They weren’t rejecting my ability, there were rejecting my culture.”

He found success on the stage “because there aren’t any gatekeepers in theater,” he says. “I just needed to write something dope, get somebody to produce it and the audience was so hungry for it.

They were dying to see themselves!”

About 60.6 million Hispanics live in the United States, the Census Bureau estimates. And many are devoted filmgoers: Latinos have consistently led the box office, reaching 29% of tickets sold, according to the latest Motion Picture Association report on theatergoers.

Yet they only represent 4.5% of all speaking or named characters and a mere 3% of lead or colead actors, a 2019 study of 1,200 popular movies

from 2007 to 2018 by the Annenberg Inclusion Initiative found.

Awards recognition, too, has been elusive. This year’s Oscars featured a diverse slate of nominees, but no Latino performers.

“I think our absence at the Oscars was appalling,” Leguizamo says. “(But) the Oscars is the symptom; the disease is Hollywood. We need more Latin executives making decisions.”

In 1951, Puerto Rican José Ferrer became the first Latino actor to receive an Academy Award for his leading role in “Cyrano de Bergerac.” The same decade, Mexican-born Anthony Quinn got two for best supporting actor, for “Viva Zapata!” (1953) and “Lust for Life” (1957). Puerto Rican Rita Moreno became the first Latina to get the best supporting actress award in 1962 as Anita in “West Side Story.”

Since then, only one more Latino has been recognized in the supporting actor category: Puerto Rican Benicio del Toro for 2000’s “Traffic.”

Spaniards Javier Bardem and Penélope Cruz got supporting roles awards in 2008 and 2009, for “No Country for Old Men” and “Vicky Cristina Barcelona,” respectively. Kenyan actor Lupita Nyong’o, who was born in Mexico, won the same prize in 2014 for “12 Years a Slave.”

No Latina has won best actress at the Oscars, and few have even been considered. Hayek was nominated for the English-language movie “Frida,” but other contenders competed for performances in foreign language films: Fernanda Montenegro for Brazil’s “Central Station,” Catalina Sandino Moreno for Colombia’s “Maria Full of Grace” and Yalitza Aparicio for Mexico’s “Roma.”

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/ Wednesday, June 16, 2021

The Loft restaurant at La Concha Resort >All photos are courtesy

Father’s Day Brunch Specials Delicious menus at top-name resorts for Dad on his special day

T his special day.

The Weekly Journal Staff

his Sunday, June 20, celebrate Father’s Day in one of Puerto Rico’s amazing hotel dining venues. In Condado and Old San Juan, top-name resorts are offering diverse brunch options that are sure to delight Dad on

Condado Ocean Club Hotel

The Condado Ocean Club Hotel will be celebrating Father’s Day with two special experiences to choose from and designed especially for Dad - a delicious brunch at SOCIAL and a burger bar at SANDBOX. The Father’s Day Brunch will be at the SOCIAL restaurant, with its impressive seaside view and a fixed-price menu consisting of three courses; appetizer, main course and dessert, each with delicious options to select from.

This succulent brunch begins with Thai coconut ceviche with shrimp, jalapeño and grilled pineapple; pumpkin soup with candied walnuts

SANDBOX, located at the Condado Ocean Club Hotel

and roasted ginger oil; melon salad with goat cheese, arugula, tomato and chocolate balsamic vinaigrette; or tuna tartare with ginger, chives and avocado with wasabi foam as appetizer options.

The main dishes to choose from are crab cake Benedictines with hollandaise sauce, focaccia and

mango chutney; waffles with fried chicken breast and blueberry syrup; Chilean grilled sea bass with porcini mushroom risotto and champagne foam; Iberian hamburger made of Angus meat and Iberian chorizo with Manchego mayonnaise and sweet plantains; truffle mac ‘n cheese with

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/ Wednesday, June 16, 2021

Swiss cheese and an egg; pancakes with blackberry compote and ricotta cheese; oatmeal with fruit; and the party mix, which is a dish that includes pancakes, waffles, French toast, scrambled eggs, fruit, bacon, sausage and salmon.

At the Palacio Provincial Hotel’s barbecue, chefs will be cooking wings with sweet or spicy sauce; pork ribs with fried sweet potato; rib eye with white sauce and potatoes au gratin with mozzarella cheese.

A delicious tiramisu and decadent mango curd tart with berries conclude the menu options, which include unlimited mimosas and Medalla beer for a cost of $29.00 per person.

For reservations, visit https://www. palacioprovincial.com/ or call 787-425-0164.

La Concha Resort

El Convento Hotel in Old San Juan

smoked cheese sauce and a sunny side up egg; avocado toast on sourdough bread with poached eggs and chia seeds; or pulled pork with yucca hash with cilantro mojo, Hass avocado and fried egg. As dessert alternatives, there will be caramel cheesecake or chocolate crunch.

The brunch will be served between 11 a.m. and 5 p.m. and costs $52 per adult and $25 per child, up to 12 years old. Guests may add unlimited mimosas for an additional $24 per person. These prices do not include tips or taxes. Reservations are made at https://www.opentable.com/r/socialsan-juan.

Meanwhile, at the newly opened SANDBOX restaurant, visitors will find a more casual experience where they can taste juicy burgers and enjoy ocean views at the Father’s Day Burger Bar. There, Dad can make his hamburger, made from fillet meat and served on a brioche bun, adding his favorite ingredients such as lettuce, tomato, caramelized onions, yellow, sautéed mushrooms, pastrami, bacon and mozzarella, Swiss or cheddar cheese. For sides, diners can choose between regular chips, with chili or truffles; or “tostones” (fried plantains). For the perfect combination, there will be refreshing local Ocean Lab beer. Spaces are limited. To book for SANDBOX, write to events@ condadooc.com.

Another station will serve salads made with organic lettuce, tomatoes, fresh mozzarella cheese, almonds and a citrus vinaigrette; and a special cod “serenata” with taro, sweet potato, “yautía” and yucca.

The barbecue is lit for the hot season, where wings and ribs will be served, accompanied by white rice with black beans. To close, there will be a selection of desserts to choose from.

The buffet will be served from 11 a.m. to 3 p.m., at a cost of $49.99 for adults, $19.99 for children, and includes unlimited mimosas and Medalla beer.

The price does not include tips or taxes.

For more information and to make reservations, call 787-723-9020 or visit www.elconvento.com.

Palacio Provincial Hotel

Chef Víctor Torres from the Consular Restaurant & Bar of the Palacio Provincial Hotel has designed an à la carte brunch menu in which they will serve an omelet with bacon, sweet plantains, mozzarella cream and cilantro; a bowl of fresh fruit; focaccia sticks with rosemary garlic butter and mozzarella; a surf & turf pizza made with cauliflower dough and pomodoro sauce, mozzarella cheese, shrimp and churrasco; French toast sandwich with pastrami,

La Concha A Renaissance Resort will celebrate Father’s Day at The Loft with a delicious brunch buffet called “Congratulations Dad” that will be served through three convenient shifts to choose from: 10 a.m., 12 p.m. and 2 p.m.

The Loft presents for the occasion a varied and refreshing menu, prepared by chef Erika Gómez, which will include continental stations serving individual plates of yogurt parfaits with homemade granola and fruit salad; varied pastries; a table of sausages, cheese, jams, and marinated and toasted olives. At the salad station, guests will find roasted vegetables; three-grain salad with cilantro “vinny,” and “arañitas” with pork rinds and gremolata.

Dad will be able to select a main dish from the following options: seafood risotto with peas and parmesan; Big Daddy French Toast with pork belly, sunny side egg and bacon; grilled Angus burger with shredded braised short rib, onion rings with sweet chili BBQ sauce, and French fries; “tripleta” omelets with ham, chicken, pork, Swiss cheese and chips; or an oven-roasted pork chop with honey whiskey glaze and spicy corn on the cob with spicy tajin.

For desserts, guests can choose among pecan pie, a variety of sweet cookies, brownies, blondies and traditional cheesecake.

This brunch costs $65 per adult and $32 per child (must be younger than 12). The price includes parking, but does not include tips or taxes. For reservations, visit https://www.opentable.com/r/ the-loft-beach-front-san-juan.

El Convento Hotel

In the case of Old San Juan’s El Convento Hotel, fathers will celebrate at the Patio del Níspero with a buffet-style brunch, which will consist of six stations and live music. The bread, cheese and fruit station will offer croissants and sourdough bread, whole wheat or white; fruit jams; variety of cheeses such as brie, goat, Manchego and fontina; and fresh fruit such as pineapple, papaya, mango and berries.

At a station, chefs will be preparing tortillas on the spot with ingredients to choose from such as onion, pepper, tomato, mushroom, cheese, bacon, sausage and smoked salmon, among others.

While for pancake lovers, there will be a station where they can enjoy them with bacon, blueberry compote, ricotta cheese, marshmallows, syrup and honey; served with potatoes and vegetables.

Consular Restaurant & Bar at the Palacio Provincial Hotel in Old San Juan